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MMCC Arranges Refis for 2 LV Apartment Communities
Marcus & Millichap Capital Corporation arranged financing for two Las Vegas area apartment communities. The first was a $6.2 million refinancing of Maryland Park, a 135-unit multifamily property located at 1101 Dumont Boulevard (photo) in Las Vegas, Nevada.
MMCC’s Michael Derk secured the financing from a credit union on behalf of a private client. The 10-year loan has a 6% interest rate, a 30-year amortization, and a 50% loan-to-value.
The gated property is located minutes from the University of Nevada Las Vegas and features one-bedroom apartments.
The company also arranged $5.1 million for the refinance of Katie Court Apartments, a 107-unit multifamily property located at 3890 South Cambridge Street in Las Vegas, Nevada.
Derk also secured the financing with a local credit union on behalf of a private client. The 10-year loan has a 6% interest rate, a 30-year amortization, and a 50% loan-to-value.
The property is located near the Las Vegas strip and offers studio and one-bedroom units.
- ◦Financing
